BRYN MAWR TRUST Co raised its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 27.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 104,501 shares of the industrial products company’s stock after buying an additional 22,485 shares during the quarter. BRYN MAWR TRUST Co owned about 0.45% of Astec Industries worth $6,114,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Astec Industries by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 582,861 shares of the industrial products company’s stock valued at $32,645,000 after buying an additional 28,977 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Astec Industries by 2.9% in the third quarter. American Century Companies Inc. now owns 98,578 shares of the industrial products company’s stock worth $5,521,000 after purchasing an additional 2,766 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Astec Industries by 40.9% in the third quarter. Stifel Financial Corp now owns 31,008 shares of the industrial products company’s stock worth $1,736,000 after purchasing an additional 8,994 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Astec Industries by 61.5% in the third quarter. Wells Fargo & Company MN now owns 47,368 shares of the industrial products company’s stock worth $2,653,000 after purchasing an additional 18,031 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new position in shares of Astec Industries in the third quarter worth about $11,430,000. Institutional investors own 93.10% of the company’s stock.
ASTE stock opened at $58.03 on Wednesday. Astec Industries, Inc. has a 12 month low of $45.70 and a 12 month high of $66.66. The stock has a market capitalization of $1,366.34, a PE ratio of 35.88, a PEG ratio of 1.71 and a beta of 1.07.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The firm had revenue of $312.38 million during the quarter, compared to analysts’ expectations of $288.14 million. Astec Industries had a return on equity of 5.43% and a net margin of 3.19%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. analysts forecast that Astec Industries, Inc. will post 3.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, March 9th. Astec Industries’s dividend payout ratio is currently 24.69%.
Several brokerages have recently issued reports on ASTE. TheStreet upgraded Astec Industries from a “c+” rating to a “b-” rating in a research note on Friday, January 5th. BidaskClub cut Astec Industries from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. William Blair restated a “buy” rating on shares of Astec Industries in a research note on Tuesday, February 13th. Zacks Investment Research upgraded Astec Industries from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, January 9th. Finally, Dougherty & Co upgraded Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $68.33.
TRADEMARK VIOLATION WARNING: “Astec Industries, Inc. (ASTE) Shares Bought by BRYN MAWR TRUST Co” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/03/21/astec-industries-inc-aste-shares-bought-by-bryn-mawr-trust-co.html.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
Want to see what other hedge funds are holding ASTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astec Industries, Inc. (NASDAQ:ASTE).
Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.